Ashoka Buildcon jumps after consortium wins new order

The announcement was made during trading hours today. 26 December 2012.

Meanwhile, the BSE Sensex was up 141.63 points, or 0.74%, to 19,396.72.

On BSE, 2,131 shares were traded in the counter as against an average daily volume of 9,770 shares in the past one quarter.

The stock hit a high of Rs 213 and a low of Rs 200 so far during the day. The stock had hit a 52-week high of Rs 279.40 on 13 August 2012. The stock had hit a record low of Rs 180 on 10 January 2012.

The stock had underperformed the market over the past one month till 24 December 2012, falling 2.59% compared with the Sensex's 4.04% rise. The scrip had also underperformed the market in past one quarter, falling 15.27% as against Sensex's 3.12% rise.

The small-cap company has an equity capital of Rs 52.65 crore. Face value per share is Rs 10.

Ashoka Buildcon and GVR Infra Projects, as a 50:50 consortium, has emerged as the lowest bidder in its bid for a project by the Tamil Nadu Road Development Company (TNRDC).

The project is for development of Chennai Outer Ring Road phase II from Nemilicheri in national highway (NH) 205 to Minjur in Thiruvottiyur - Ponneri - Panchetti (TPP) Road on a design, build, finance, operate and transfer (DBFOT) annuity basis at Chennai, in Tamil Nadu.

The project is on annuity basis with a concession period of 20 years and TNRDC cost of the project is Rs 985.44 crore.

Ashoka Buildcon's consolidated net profit jumped 42% to Rs 23.99 crore on 6.2% growth in net sales to Rs 304.43 crore in Q2 September 2012 over Q2 September 2011.

Ashoka Buildcon is a leading highway concessionaire and EPC company.

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